TD Bank’s U.S. entity pleaded guilty and agreed to pay more than $3 billion in penalties, acknowledging it failed to properly monitor money laundering by drug cartels and other criminal groups. WSJ’s Dylan Tokar unpacks the investigation that led to such a historic deal.

Ryan Knutson and Molly Ball explore what we know about both candidates’ approach to foreign policy. Plus, Molly shares what she learned about the future of MAGA from an interview with Donald Trump Jr. and JD Vance.

The U.S. budget deficit topped $1.8 trillion in the last fiscal year. Meanwhile, both candidates for president are proposing plans that would increase the deficit for years to come. WSJ’s Richard Rubin explains how the deficit got so large and why the candidates don’t talk about it.